A comprehensive guide to digital loan applications in Uganda, with important warnings about risks and safer alternatives.
Many digital loan apps charge extremely high interest rates (some exceeding 250% APR) and may employ predatory lending practices. The Bank of Uganda and Uganda Microfinance Regulatory Authority have issued warnings about unlicensed digital lenders.
We strongly recommend considering regulated alternatives from established financial institutions before using these apps.
Some apps charge up to 250% APR, far exceeding rates from regulated institutions. A seemingly small daily rate (e.g., 1%) compounds to massive amounts over time.
Many apps charge undisclosed processing fees, late payment penalties, and rollover charges that significantly increase the total cost of borrowing.
Many loan apps request excessive permissions to access contacts, messages, and photos, potentially compromising your privacy and using contacts for debt collection.
Many digital lenders operate without proper licensing from Bank of Uganda or UMRA, meaning they may not follow consumer protection regulations.
Reports of harassment, threats, and contacting family/friends for repayment are common with unregulated lenders, causing significant distress to borrowers.
High costs and short repayment periods can lead to a cycle of borrowing where users take new loans to repay existing ones, creating a debt spiral.
Consider these regulated alternatives from established financial institutions that offer more transparent terms and consumer protections:
A 30-day microloan via USSD code 1655#. Requires first saving in MoKash account.
Instant top-up loans to complete transactions when wallet is low. Offers credit at the point of purchase.
Instant loans for Stanbic customers who receive regular deposits.
Instant loans for Equity Bank customers based on account history.
| App Name | Loan Amount (UGX) | Term (Days) | APR Range | Risk Level | Additional Fees |
|---|---|---|---|---|---|
| Azima | USh 0 - USh 200,000 | 61 - 180 | 240% - 240% | Very High Risk | Not specified |
| Cash Base | USh 50,000 - USh 1,000,000 | 91 - 365 | 15% - 120% | High Risk | Not specified |
| Cash X | USh 100,000 - USh 1,000,000 | 90 - 365 | 21% - 34% | Medium Risk | Not specified |
| Dove Cash | USh 50,000 - USh 1,000,000 | 91 - 365 | 16% - 45% | Medium Risk | Not specified |
| Fair Credit | USh 80,000 - USh 700,000 | 90 - 365 | 7% - 180% | High Risk | Not specified |
| Fly Pessa Instant Loan | USh 60,000 - USh 1,000,000 | 91 - 365 | 16% - 32% | Medium Risk | Not specified |
| GetLoan | USh 50,000 - USh 1,000,000 | 90 - 365 | 17% - 29% | Medium Risk | Platform fee of 0.01% |
| Grizzly | USh 300,000 - USh 3,000,000 | 120 - 360 | 12% - 36% | Medium Risk | Not specified |
| Have More | USh 100,000 - USh 500,000 | 91 - 365 | 12% - 24% | Low Risk | Not specified |
| Isente Safe and Reliable Loan | USh 90,000 - USh 600,000 | 90 - 365 | 12% - 50% | Medium Risk | Not specified |
| Kasente Instant Loan | USh 30,000 - USh 1,000,000 | 91 - 365 | 25% - 250% | Very High Risk | Not specified |
| Mangu Cash | USh 60,000 - USh 400,000 | 90 - 365 | 15% - 52% | Medium Risk | Not specified |
| Mara- Instant Loan | USh 100,000 - USh 1,000,000 | 90 - 365 | 24% - 56% | Medium Risk | Not specified |
| Moji | USh 200,000 - USh 800,000 | 90 - 365 | 24% - 24% | Medium Risk | Service fee of 10% to 20% |
| Ok Loan | USh 60,000 - USh 800,000 | 90 - 365 | 16% - 45% | Medium Risk | Not specified |
| OneLoan | USh 100,000 - USh 500,000 | 91 - 365 | 12% - 30% | Medium Risk | Not specified |
| Quick Sente | USh 60,000 - USh 500,000 | 91 - 365 | 12% - 52% | Medium Risk | Not specified |
| QuickLoan | USh 30,000 - USh 500,000 | 91 - 365 | 15% - 34% | Medium Risk | Not specified |
| Sunlit Loan | USh 50,000 - USh 1,000,000 | 90 - 365 | 14% - 32% | Medium Risk | Not specified |
| Sweet Loan | USh 90,000 - USh 600,000 | 90 - 365 | 12% - 50% | Medium Risk | Not specified |
| TopLoan | USh 80,000 - USh 500,000 | 91 - 365 | 4% - 29% | Medium Risk | Origination fee of UGX 3,200 to 65,000 |
| Touch Loan | USh 30,000 - USh 500,000 | 91 - 365 | 16% - 45% | Medium Risk | Not specified |
| UCredit | USh 100,000 - USh 500,000 | 90 - 365 | 12% - 24% | Low Risk | Not specified |
| Ukash | USh 50,000 - USh 500,000 | 91 - 365 | 10% - 30% | Medium Risk | Not specified |
| Yo Cash | USh 50,000 - USh 500,000 | 91 - 365 | 12% - 40% | Medium Risk | Not specified |
Annual Percentage Rate (APR) represents the yearly cost of a loan including interest and fees. It's the standard measure for comparing loan costs across different products.
A 1% daily interest rate might sound small, but it compounds to approximately 30% monthly and over 365% annually. Always convert to APR to understand the true cost.
If you borrow UGX 100,000 with a 1% daily interest rate for 30 days:
If you're considering a loan, explore our financial planning resources for guidance on making better financial decisions.